Stimulus is Non-Renewable
President-Elect Barack Obama announced Saturday that he plans to revive the economy and create jobs by upgrading roads, schools and energy efficiency in the greatest public-works initiative since the interstate highway system in the 1950s.
His announcement was in response to news of more than a half-million American job losses last month. He reportedly offered no price estimate. As the Associated Press observed, “The president-elect’s address never once used the word ‘spend,’ relying instead on ‘invest’ or ‘investments,’ and pledging wise stewardship of taxpayer money in upgrading roads and schools, and making public buildings more energy-efficient."
Hmm. “Invest” in government spending… Echoes of Bill Clinton? Absolutely. One of Clinton’s first acts in 1993 was to push a package of public works money through a Congress controlled by his own party. Sounds familiar indeed. The current thinking by transportation policy advocates is to convince the government to put up about $65 billion… Read More